Can I retire at age 56 with 8,600,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $8,600,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16%
1 years$710,180$703,854$697,682$691,658$685,776$668,926
2 years$351,574$345,026$338,681$332,528$326,560$309,688
3 years$232,055$225,479$219,149$213,054$207,183$190,816
4 years$172,307$165,751$159,484$153,493$147,765$132,029
5 years$136,467$129,951$123,766$117,898$112,328$97,268
6 years$112,582$106,114$100,022$94,284$88,882$74,512
7 years$95,528$89,115$83,118$77,516$72,285$58,606
8 years$82,743$76,388$70,491$65,026$59,967$46,975
9 years$72,804$66,509$60,714$55,388$50,501$38,184
10 years$64,858$58,625$52,932$47,745$43,029$31,373
11 years$58,361$52,190$46,600$41,552$37,007$25,995
12 years$52,951$46,843$41,357$36,447$32,069$21,683
13 years$48,376$42,332$36,949$32,177$27,965$18,184
14 years$44,459$38,479$33,199$28,563$24,514$15,317
15 years$41,066$35,151$29,974$25,473$21,584$12,949
16 years$38,101$32,251$27,176$22,809$19,076$10,979
17 years$35,488$29,702$24,729$20,493$16,914$9,333
18 years$33,167$27,446$22,575$18,469$15,039$7,950
19 years$31,093$25,436$20,666$16,688$13,405$6,784
20 years$29,229$23,637$18,966$15,114$11,973$5,798
21 years$27,544$22,017$17,445$13,717$10,715$4,961
22 years$26,015$20,552$16,078$12,472$9,604$4,249
23 years$24,621$19,222$14,846$11,359$8,621$3,643
24 years$23,344$18,009$13,730$10,360$7,749$3,126
25 years$22,172$16,901$12,716$9,461$6,973$2,684
26 years$21,092$15,884$11,794$8,651$6,281$2,306
27 years$20,093$14,949$10,952$7,918$5,663$1,982
28 years$19,168$14,086$10,181$7,255$5,110$1,704
29 years$18,307$13,289$9,474$6,653$4,614$1,466
30 years$17,506$12,550$8,825$6,106$4,169$1,261
31 years$16,758$11,864$8,227$5,607$3,769$1,086
32 years$16,058$11,225$7,676$5,153$3,409$935
33 years$15,401$10,631$7,167$4,739$3,086$805
34 years$14,785$10,076$6,697$4,360$2,794$693
35 years$14,205$9,556$6,261$4,014$2,530$597
36 years$13,659$9,070$5,857$3,697$2,293$514
37 years$13,143$8,615$5,482$3,406$2,078$443
38 years$12,656$8,187$5,134$3,139$1,884$382
39 years$12,195$7,785$4,810$2,895$1,708$329
40 years$11,758$7,407$4,508$2,670$1,549$283
41 years$11,343$7,051$4,227$2,463$1,406$244
42 years$10,949$6,715$3,965$2,273$1,276$210
43 years$10,575$6,398$3,721$2,099$1,158$181
44 years$10,218$6,099$3,493$1,938$1,051$156
45 years$9,878$5,816$3,279$1,790$954$135
46 years$9,554$5,548$3,080$1,653$866$116
47 years$9,245$5,294$2,894$1,527$786$100
48 years$8,950$5,054$2,719$1,411$714$86
49 years$8,667$4,826$2,556$1,304$649$74
50 years$8,397$4,610$2,403$1,205$589$64

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $8,600,000, adding $4,225 every year, while hoping to spend $51,678 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 51/21/28 Blend
55$8,600,000$8,600,000$8,600,000$8,600,000
56$9,481,558$9,025,758$8,892,458$9,890,097
57$10,393,692$9,413,035$9,135,370$10,562,596
58$11,397,132$9,817,557$9,384,688$11,287,933
59$12,501,135$10,240,114$9,640,572$12,075,666
60$13,715,905$10,681,533$9,903,184$12,931,757
61$15,052,680$11,142,680$10,172,694$13,862,765
62$16,523,845$11,624,464$10,449,271$14,875,897
63$18,143,046$12,127,832$10,733,091$15,979,085
64$19,925,320$12,653,778$11,024,332$17,181,048
65$21,887,234$13,203,345$11,323,178$18,491,381
66$24,047,043$13,777,620$11,629,816$19,920,638
67$26,424,863$14,377,745$11,944,436$21,480,431
68$29,042,858$15,004,914$12,267,235$23,183,537
69$31,925,453$15,660,378$12,598,411$25,044,015
70$35,099,560$16,345,447$12,938,168$27,077,340
71$38,594,834$17,061,492$13,286,715$29,300,539
72$42,443,951$17,809,950$13,644,265$31,732,358
73$46,682,921$18,592,324$14,011,034$34,393,426
74$51,351,421$19,410,190$14,387,246$37,306,456
75$56,493,173$20,265,197$14,773,126$40,496,449
76$62,156,357$21,159,072$15,168,906$43,990,932
77$68,394,064$22,093,624$15,574,822$47,820,208
78$75,264,796$23,070,750$15,991,116$52,017,646
79$82,833,020$24,092,432$16,418,034$56,619,985
80$91,169,777$25,160,750$16,855,827$61,667,683
81$100,353,348$26,277,880$17,304,751$67,205,290
82$110,469,998$27,446,105$17,765,068$73,281,865
83$121,614,785$28,667,811$18,237,046$79,951,439
84$133,892,461$29,945,502$18,720,954$87,273,512
85$147,418,458$31,281,798$19,217,073$95,313,619
86$162,319,980$32,679,445$19,725,684$104,143,938
87$178,737,199$34,141,319$20,247,075$113,843,965
88$196,824,583$35,670,433$20,781,542$124,501,264
89$216,752,350$37,269,943$21,329,383$136,212,283
90$238,708,077$38,943,158$21,890,904$149,083,261
91$262,898,467$40,693,539$22,466,416$163,231,223
92$289,551,306$42,524,718$23,056,237$178,785,080
93$318,917,606$44,440,496$23,660,687$195,886,839
94$351,273,979$46,444,857$24,280,097$214,692,932
95$386,925,245$48,541,975$24,914,801$235,375,693
96$426,207,312$50,736,224$25,565,139$258,124,969
97$469,490,344$53,032,185$26,231,457$283,149,912
98$517,182,257$55,434,660$26,914,109$310,680,937
99$569,732,568$57,948,679$27,613,452$340,971,894
100$627,636,638$60,579,513$28,329,851$374,302,455